OPEC had been scheduled to meet on Sunday
Delay comes as countries struggle to agree output levels
Dispute linked to African countries
Oil loses nearly 1, rebounds from 4 drop earlier
Delay shows there are some different views in group analyst
DUBAILONDON, Reuters OPEC has delayed a ministerial meeting expected to discuss oil output cuts to Nov. 30 from Nov. 26 as producers struggled to agree on production levels and hence possible reductions, OPEC sources said, a surprise delay that sent oil prices sliding.
Three OPEC sources said this was linked to African countries. OPEC said after its last meeting in June that the 2024 output quotas of Angola, Nigeria and Congo were conditional on reviews by outside analysts.
Sunday39;s meeting of the Organization of the Petroleum Exporting Countries and allies such as Russia, known as OPEC, had been expected to consider further changes to a deal that already limits supply into 2024, according to analysts and OPEC sources.
Uncertainty is never good for financial markets, with markets now having to wait longer to get clarity what OPEC does next year, said UBS analyst Giovanni Staunovo.
The postponement of the meeting also shows there are some different views among the group participants.
Brent crude settled down 49 cents a barrel at 81.96, recovering from steep losses earlier of nearly 5 after news that the dispute was linked to African producers, among the smaller exporters in OPEC. That led some investors and analysts…